OREOF VIII, an offering from Oaktree Capital Management, is a high-yield fund that launched in 2014 and is reportedly seeking a $3 billion haul. The fund series targets properties, operating companies and debt, including CMBS, and is mainly focused on the United States, though it will also invest in foreign markets.

The investment is a re-up for TRSL after committing $50 million to OREOF VI in 2013.

The pension fund’s 10 percent target allocation to real estate is split evenly in half between a core target and an opportunistic target. Currently, 5 percent of TRSL’s assets are committed to core real estate, and 4 percent are committed to opportunistic real estate, just below its 5 percent target.